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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows Used in Operating Activities    
Net loss $ (17,312) $ (6,194)
Adjustment to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 47 5
Amortization of intangible assets 235 13
Amortization of deferred loan costs 17 44
Amortization of right-of-use asset 92 0
Amortization of debt discount 156 251
Stock based compensation 5,733 2,602
Change in fair value of JV obligation 0 197
Provision for credit losses 1 0
Change in fair value of convertible notes payable (12,882) 0
Inducement loss on debt conversions 6,732 0
Change in fair value of warrant liability 281 126
Change in fair value of warrant asset 24 0
Unrealized loss on foreign currency transactions (131) 0
Other 93 0
Changes in operating assets and liabilities:    
Accounts receivable and other receivables 309 114
Inventory 132 0
Prepaid expenses and other current assets 162 29
Other assets 8 0
Accounts payable 1,981 727
Related party payables 0 59
Accrued expenses and other current liabilities 6,494 206
Accrued interest 86 248
Deferred revenue (354) 0
Operating lease obligation (94) 0
Net Cash Used in Operating Activities (8,190) (1,573)
Cash Flows Provided by Investing Activities    
Purchase of property and equipment (18) 0
Cash received in purchase of Inpixon 2,968 0
Purchase of intangible asset (39) 0
Net Cash Provided by Investing Activities 2,911 0
Cash Provided by Financing Activities    
Proceeds from sale of common stock 0 180
Proceeds from warrant exercises 2 0
Net proceeds from ATM stock offering 8,547 0
Net proceeds from promissory notes 2,000 575
Net proceeds from loan from Inpixon (prior to merger) 1,012 0
Net proceeds from convertible notes 0 750
Repayments of promissory notes (502) (10)
Net Cash Provided by Financing Activities 11,059 1,495
Effect of Foreign Exchange Rate on Changes on Cash (6) 0
Net Increase (Decrease) in Cash and Cash Equivalents 5,774 (78)
Cash and Cash Equivalents - Beginning of period 5 115
Cash and Cash Equivalents - End of period 5,779 37
Cash paid for:    
Interest 32 1
Income Taxes 4 0
Non-cash investing and financing activities    
Common shares issued for conversion of debt and accrued interest 9,614 0
Common shares issued in exchange of warrants 1,698 0
Deemed dividend related to December 2023 warrant exchange 283 0
Common shares issued as settlement of accrued compensation 1,192 0
Common shares issued as prepayment for services 335 0
Issuance of common stock for merger consideration, net of cash received 22,637 0
Right of use asset obtained in exchange for lease liability 394 0
Capital contribution - forgiveness of related party payable 380 0
Series 9 preferred stock dividend accrued 311 0
Deemed dividend related to Series 9 preferred stock exchange 177 0
ATM proceeds withheld as payment towards accounts payable 128 0
Warrants issued with convertible notes 0 967
Warrants issued with common stock 0 98
Reclassification of JV obligation to equity 0 5,583
Series 9 Preferred Stock    
Non-cash investing and financing activities    
Common shares issued in exchange of series 9 preferred stock $ 3,550 $ 0

Source

10-Q PDF
XBRL